Sainsbury’s Bank has introduced remortgage products to its broker-exclusive range, to be available for a limited time only.
The lender now offers two-year fixed remortgage rates at 60 per cent loan-to-value (LTV) at 1.45 per cent with a £1,495 product fee and 1.90 per cent with no product fee.
The range also offers a 75 per cent LTV at 1.58 per cent with £995 product fee and 1.92 per cent with no product fee.
The bank did not specify an end date for the products' availability, but a Sainsbury's spokesperson said it would depend on broker demand.
Catherine More, head of mortgages at Sainsbury’s Bank, said the lender was focused on providing great products and service to their intermediary partners, including launching limited offers designed to support the growth of their businesses.
She said: "As we approach the autumn, traditionally one of the busiest periods for the housing market, we are launching, for a limited period, these remortgage rates available exclusively to the broker network."
Paul Dorward, owner and adviser at PAD Financial, said Sainsbury's latest deals were all competitive and the bank would find themselves close to the top of sourcing tables.
He said: "As well as pricing competitive deals to attract new business, Sainsbury’s could also look to expand the number of lending partners they are working with and open up their distribution to other appointed representatives and directly authorised brokers.
"It is good to see a healthy level of competition in the market which should ultimately benefit the consumer."
Earlier this month, Sainsbury's increased rates across its purchase and remortgage residential product range, following the Bank of England base rate rise.
rachel.addison@ft.com
